Azerbaijan, Baku, Sept. 3 /Trend/
Iran should become the oil price determiner in the Middle East region, IRIB reported quoting Managing Director of the National Iranian Oil Company Ahmad Ghalebani as saying.
"Iran's oil exchange will not provide any discount or sell its products at lower prices. The officials should focus on promoting the oil exchange," he said.
Last week, Iran placed the fifth heavy crude oil at $105.58 per barrel at the Kish International oil exchange, but failed to sell due to the price disagreement.
The National Iranian Oil Company placed 1 million barrels of heavy crude oil from the Behregan oil field.
Previously, Managing Director of Tehran Stock Exchange Mahmoud Ghafarri underlined that Iran will halt to place gasoline and furnace fuel oil at the Kish International oil exchange because of continuous failure in sales. However Iran's Oil Minister Rostam Ghazanfari said the country will not provide discount or lower the prices.
Iran possesses the world's second largest reserves of gas and third in oil reserves is currently faces US sanctions over its nuclear program.
The U.S. Congress approved financial sanction against Iran in 2010, which imposes strict conditions for foreign investors and financial firms and prevents them to invest more than $20 million in Iran oil and gas industries.